General Dynamics stock posts 12.9% third-quarter revenue growth
Published on 11/04/2026 at 14:01 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSQuarterly growth and backlog
- Third-quarter revenue rose 12.9 percent year over year, with growth across all four operating segments.
- Orders reached 98.8 billion US dollars, lifting backlog to 220.3 billion US dollars.
- Marine Systems led segment growth as submarine awards drove the order surge.
General Dynamics reported third-quarter 2026 revenue of 14.566 billion US dollars, up 12.9 percent from the year-earlier period, while diluted earnings per share rose 15.7 percent to 4.49 US dollars. The figures cover the three months ended October 4 and were released on October 30. The company detailed the results in its third-quarter financial release.
Operating earnings increased 14.7 percent to 1.527 billion US dollars, and the operating margin expanded to 10.5 percent from 10.3 percent a year earlier. Net earnings reached 1.229 billion US dollars, compared with 1.059 billion US dollars in the third quarter of 2025.
Orders reshape the backlog
New orders totaled 98.8 billion US dollars during the quarter. Defense segments accounted for 93.8 billion US dollars, led by large Virginia-class and Columbia-class submarine awards in Marine Systems. Aerospace added 5 billion US dollars of orders, producing a company-wide book-to-bill ratio of 6.8 to 1.
Backlog stood at 220.3 billion US dollars at the end of the quarter, compared with 136.5 billion US dollars at the end of the second quarter and 109.9 billion US dollars a year earlier. Management also cited 50.4 billion US dollars of estimated potential contract value tied to unfunded indefinite-delivery, indefinite-quantity contracts and unexercised options. That brought total estimated contract value to 270.7 billion US dollars, although the potential portion is not the same as firm backlog.
Marine Systems generated quarterly revenue of 4.960 billion US dollars, up 21.1 percent year over year, while operating earnings increased 34.4 percent to 391 million US dollars. Aerospace revenue rose 9.3 percent to 3.536 billion US dollars, and Technologies revenue gained 10.8 percent to 3.684 billion US dollars. Combat Systems revenue increased 6.0 percent, while its operating earnings slipped 1.5 percent.
Cash flow supports capital allocation
Operating cash flow reached 1.710 billion US dollars in the quarter, equal to 139 percent of net earnings. General Dynamics spent 481 million US dollars on capital expenditures, paid 429 million US dollars in dividends and reduced total debt by 500 million US dollars during the period. Cash and equivalents stood at 4.388 billion US dollars at October 4, against total debt of 7.016 billion US dollars.
General Dynamics stock traded at 326.45 euros on Lang & Schwarz at 13:59:52 CET on Wednesday, November 4, 2026. Investors can follow the real-time quote of General Dynamics stock for the latest market indication.
General Dynamics quarterly snapshot
- Company: General Dynamics Corporation
- ISIN: US3695501086
- Ticker: GD
- Exchange: NYSE
- Lang & Schwarz quote: 326.45 euros at 13:59:52 CET on November 4, 2026
- Third-quarter revenue: 14.566 billion US dollars
- Third-quarter diluted EPS: 4.49 US dollars
- Quarter-end backlog: 220.3 billion US dollars
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Further execution in Marine Systems, aerospace deliveries and the conversion of backlog into revenue will shape the next assessment of General Dynamics. The company said its third-quarter conference call was held on October 30, with the replay available through its investor-relations site.
